A general view of the offshore wind farm Hywind Tampen in the North Sea
Any revenue from a future wind farm would be shared between the developer and the States of Guernsey
An offshore wind company interested in developing turbines in Guernsey said it could take "eight to 10 years" to build them.
Guernsey States will this month decide whether to progress plans to lease part of the seabed for the project.
The Channel Islands-based energy firm Dyna said it would look to join up with a large utility company to tender for the work.
Co-founder Mark Leybourne said he was confident it could bring lots of benefits to the islands.
Policy and resources wants to spend £1.3m over the next two years developing a framework to allow it to lease the seafloor and share profits.
Mr Leybourne said the government would likely recoup costs while the wind farm was built, but "the larger revenues would come from power being sold overseas".
'Impactful' work
Describing it "as the largest infrastructure project the island has ever embarked on" Mr Leybourne said it would be "impactful" and ultimately beneficial.
"There is revenue for the government, there are local jobs that can be brought from doing local operations and maintenance, and there is potentially investment into infrastructure," he said.
He added: "It's going to take a lot of time and effort.
"There is a lot to understand and I think it is all new for the government and the islanders."
Mr Leybourne added it was "about learning and getting comfortable with what could happen, but also what the benefits could be".
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